Sensex Climbs to New High, Nifty Hits 7,700; Infosys Surges

Indian stocks markets continued its record-setting run today with BSE Sensex and Nifty hitting new highs today after a quiet start.

Hitting record highs for the fourth consecutive session, Sensex and Nifty rose nearly 0.5 per cent to hit new highs of 25,730.42 and 7,700.05. Dilip Bhat, joint managing director of Prabhudas Lilladher, says markets are in a very optimistic mood and 8,000 does not look impossible before budget.

He expects the rally to continue till budget and even if there is some correction it will be short-lived. Thereafter, the budget would set the direction for the market, he added.

Defensive sectors such as healthcare and technology lead the gains, with Infosys gaining over 5 per cent on value buying. The BSE IT index was up 2.7 per cent. Wipro, Tech Mahindra and TCS were up between 1.3 per cent and 1.7 per cent.

Among drugmakers, Cipla, and Sun Pharma rose 1 per cent. Banking stocks were also among gainers with up nearly 1.5 per cent.

At 11:21 a.m., Sensex was up 48 points to 25,631 while Nifty rose 12 points to 7,669.30.